[Congressional Record Volume 172, Number 81 (Wednesday, May 13, 2026)]
[Senate]
[Page S2268]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  PROVIDING FOR CONGRESSIONAL DISAPPROVAL UNDER CHAPTER 8 OF TITLE 5, 
  UNITED STATES CODE, OF THE RULE SUBMITTED BY THE BUREAU OF CONSUMER 
FINANCIAL PROTECTION RELATING TO THE WITHDRAWAL OF THE RULE RELATING TO 
     ``FAIR CREDIT REPORTING; FILE DISCLOSURE''--Motion to Proceed

  Mr. KIM. Mr. President, I move to proceed to Calendar No. 383, S.J. 
Res. 127.
  The PRESIDING OFFICER. The clerk will report.
  The senior assistant legislative clerk read as follows:

       Motion to proceed to Calendar No. 383, S.J. Res. 127, a 
     joint resolution providing for congressional disapproval 
     under chapter 8 of title 5, United States Code, of the rule 
     submitted by the Bureau of Consumer Financial Protection 
     relating to the withdrawal of the rule relating to ``Fair 
     Credit Reporting; File Disclosure''.

  Mr. KIM. Mr. President, I rise today to defend something rather 
simple: Americans' right to access their own credit and background 
reports.
  We have a law already on the books--the Federal Credit Reporting 
Act--to protect this right, but we are seeing companies and others 
finding creative ways to skirt this responsibility, and working 
Americans are the ones left paying the price. That is why we must pass 
this joint resolution of disapproval I filed today and reassert this 
law's authority.
  The Fair Credit Reporting Act gives every consumer the right to 
obtain a copy of the information in their file, entitling them to one 
free credit report per year from annualcreditreport.com or from 
``specialty'' reporting companies like tenant screeners or background 
check companies. When these companies choose to cheat the system, they 
are able to make a profit, while American consumers are left in the 
dark about their own credit.
  That is why, in January 2024, the Consumer Financial Protection 
Bureau, our Nation's consumer watchdog, stepped in to stand up for 
consumers and hold credit reporting companies, tenant screeners, and 
others accountable to the law.
  Last year, though, the Trump administration threw this work out the 
window. And while the law is still clear, scrapping CFPB's work was a 
glaring signal to credit bureaus and background screeners about what 
they can get away with.
  In New Jersey alone, over the past year, there have been over 157,000 
complaints with the CFPB about credit reports or other consumer 
reports--hundreds of them about not being able to get to their credit 
report or score.
  Everyone knows these moments when a credit score matters: applying to 
rent an apartment, at the car dealership, opening a new credit card. 
Credit is foundational to people's financial mobility and staying out 
of financial hardship. Without the transparency consumers deserve, 
people can go unaware of mistakes in their reports and have no way to 
get them fixed. Without the accuracy consumers deserve, people's 
financial stability and mobility are put at risk.
  The PRESIDING OFFICER. The Senator's time has expired.
  Mr. KIM. I yield back.


                       Vote on Motion to Proceed

  The PRESIDING OFFICER. The question is on agreeing to the motion.
  In the opinion of the Chair, the noes have it.
  The motion was rejected.
  The PRESIDING OFFICER. The Senator from Rhode Island.

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